Alexander one of five Sens. to vote against new credit card rules

Sen. Lamar Alexander joined four Republicans and one Democrat to vote against a new set of rules that would make it harder for credit card companies to raise interest rates and charge consumers fees. The measure passed the Senate 90-5. Here are the others who voted against:

Tim Johnson (D-S.D.)

Jon Kyle (R-Ariz.)

Robert Bennett (R-Utah)

John Thune (R-S.D.)

One consequence of the new rules may be for responsible credit card holders to get screwed (again), the NYT reports today:

To make up for lost income, the card companies are going after those people with sterling credit.

Banks are expected to look at reviving annual fees, curtailing cash-back and other rewards programs and charging interest immediately on a purchase instead of allowing a grace period of weeks, according to bank officials and trade groups.